AoFrio achieves 18% revenue growth in Q3-2022

AoFrio Limited, a leading hardware-enabled, Software as a Service (SaaS) company supplying energy-efficient motors to the global retail food and beverage industry, has reported its trading results for the three months ending 30 September 2022 (Q3-2022).

Revenue increased 18.1% to NZ$18.1m compared to $15.3m for the same period in 2021 (Q3-2021).

The pre-tax result was a loss of $0.8m, while the Company maintained its current guidance for annual EBITDA to fall within $3.5 – $4.5 million.

The BNZ is increasing the Company’s trade finance facility from $2.5m to $5.0m to support revenue growth, and AoFrio is on track to becoming a NZ$100 million revenue company in 2023.

The Company has recently launched its communications platform and new brand identity, and is accelerating new product development.